Stuff you should know

In which the curmudgeonly old sod puts the world to rights.

Index — Click ᐅ to expand: The Devil’s Advocate

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In a desperate attempt to stop salespeople going, “hey legal eagles, can you read this email for me”, and to counterpoint lackadaisical credit officers saying, “the question of whether we have credit risk to that bank account is a legal question on which I can’t opine”^[1] we are running a snagging list of legal concepts no banker in her right mind should be able to plead ignorance.

Stuff you should know, banker’s edition, then:

How agency works and why you can’t be agent for yourself
The nature of cash and indebtedness
Offer, acceptance and consideration
How set-off works, and more particularly, when it doesn’t. Why you can’t set off debts owed by different counterparties.
The difference between title transfer and pledge.

References

↑ Real-life quote, by the way, from a managing director in a global investment bank, to which the retort should have been, but I regret to say was not, “pal, if you are really saying you don’t know that, you need to get your coat”

[1] Real-life quote, by the way, from a managing director in a global investment bank, to which the retort should have been, but I regret to say was not, “pal, if you are really saying you don’t know that, you need to get your coat”

[1]

Stuff you should know

See also

References